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Many companies are facing sustainability challenges with their large holdings of BTC/ETH NAV premium strategies.
[Coin World] On July 22 (UTC+8), recent companies such as Metaplanet, Twenty One, SharpLink (SBET), and BTCS (BTCM) have significantly increased their Holdings of BTC/ETH through complex financing structures, attempting to amplify NAV premiums to gain market attention. Although some projects exhibit innovation in on-chain operations and asset management, there is a serious overall homogenization, lacking stable fundamental support. The valuation is highly dependent on announcements and sentiment-driven momentum, facing sustainability challenges.